UK House Prices Could Grow Only by 3% Next Year

London house prices will grow by just 3 percent next year, according to leading U.K. estate agent Hamptons, which has halved its forecasts for house price growth in the capital in 2015.

This is the latest prediction to suggest that London house prices are finally cooling down, after a couple of years outstripping forecasts. In June, values rose at their slowest pace in 15 months, according to the Royal Institute of Chartered Surveyors.

That followed a record annual increase in London of 20.1 percent in May, according to data from the Office for National Statistics.

At the top of the market in London, prices grew by just 0.3 percent in July, according to estate agent Knight Frank.

“Inconsistent data for the prime central London residential market suggests it is entering a new phase as a general election and rate rise approach”, Tom Bill, head of London residential research at Knight Frank, said in a statement.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza